Chapter 5



Ann opened the door and invited Sam into the house. Sam put his arm around Ann's shoulder and hugged her tightly for a minute.

"I've got to thank you for helping out with my mother. I don't know what I would have done if it hadn't been for you. My mother's life these past two years have been very pleasant for her. She was very happy having you and Brenda here. It gave her life some purpose.

Ann ushered Sam into the kitchen and poured him a cup of coffee. Sam took the coffee and they sat at the kitchen table.

"Ann, I guess you know that my mother thought the world of you and Brenda and I do too. Again, I don't know what I would have done if you hadn't come along. I guess you know that I have to sell the house to settle the estate. I just can't keep it with living in California. My mother insisted on putting you in her will. I don't know if she ever discussed her finances with you, but she never had to worry about money. My father was pretty well off when he died. Rosie left you $50,000 in her will. It will take a while to sell the house so you won't have to move for a while. I'm going to continue to pay your salary until you find a place. That's the least I can do for what you've done for my mother. She had a very fine life since you came to live with her. Do you have any idea what you are going to do?"

Ann shook her head. She was having trouble speaking. She had no idea that Rosie was going to leave her so much money.

"I really don't know Sam. This is the only job I've had since college. I don't think many companies would have a position for a housewife. I've always wanted to have my own business. Maybe I'll check around to see what's available."

"Well if you need any help getting into a new place let me know," Sam said. "If you need any help with financing let me know. I really don't need the money from the estate and I can lend you the money if you can find a small business that you think would be right for you."

Ann shifted uneasily in her chair, "I think that you and Rosie have done enough for Brenda and me. I shudder to think where we'd be if Rosie had turned us down."

"Nonsense Ann. Think about it. You've never had a job. You don't have any collateral. Banks are a lot more stringent with business loans then a residential loan. Believe me, I want to help you get set up. I owe you, big time. It will be an investment for me. If you feel uneasy with not paying interest, I'll charge you what ever the residential mortgage rate is. We'll put it in the contract that anyone who buys the business from you can assume the loan. That will make it easier to get out when you feel it's time."

Tears came to Ann's eyes. She knew that this was too good a deal to pass up and that she would never have been able to really go into business for herself without Sam's help. She just nodded her head, the lump in her throat kept her from answering out loud.

Sam was an old softy and when he saw the tears in Ann's eyes he began to fidget in his chair. He stood up and thanked Ann again and headed for the door. He told Ann that he and his family would be going back home in two days and asked the she take care of a few items around the house to help make it ready for real estate buyers. He told her that he would make sure that there was enough money in the account to pay any subcontractors. He told her again, as he walked out the door, that he wanted to help her get set up in some kind of business and offered to give her any advice that she needed.

The next several days were spent touching up some areas that needed a coat of paint, having the gutters cleaned out, having the furnace tuned-up and making sure that the house looked a nice as possible. At night she would look in the classified of the newspaper for businesses for sale. The few that sounded promising turned out to be dogs on closer inspection.

About three weeks after the house was listed with a real estate agent she received a full-price contract on the house. Settlement was proposed to occur in ninety days. She called Sam and read him the terms of the contract

"Have you been able to find a place to live yet?' Sam asked, "How is your search going for the business?

"I really haven't been putting too much time into finding a place to live these past few weeks with the real estate agent bringing people by," Ann said. "Most of the businesses that I've looked at would be better off going out of business, no one could save them."

Sam paused a minute, "How about the settlement date? Do you think that will be a problem for you?"

"I guess that it will have to be alright," Ann said, "I wouldn't want to hold up on the sale of the house."

"Nonsense Ann," Sam snorted, "I won't let you down. If you haven't found anyplace by the time settlement occurs we'll find you a place. What a minute! I know a commercial real estate agent that might know of a business that would suit you. Let me get in touch with him tomorrow and I'll have him get in touch with you."

Ann agreed to talk with the real estate agent and Sam thanked her for her help in selling the house and hung up.

The next day the real estate agent that Sam knew contacted her and made an appointment to talk to her. He questioned her, over the phone, as to her needs and experience and told her that he would bring a list of small businesses with him that he thought she might be interested in. Ann made an appointment for the next evening. She checked the classified before she went to bed but there were no small businesses that she would consider. Most of the listings were bars and carryouts.

The next evening the real estate agent showed up at 7:00 o'clock. Brenda had fallen asleep on the couch so Ann asked that they sit at the kitchen table.

After some small talk the agent introduced himself, "Mrs. Simmons, my name is Ed Hawley. I talked to Sam yesterday and he told me that financing was no problem so that does away with the major obstacle to getting you into a business. I have several small businesses that are making a decent profit but to be honest, most of them are a bit over priced. Just what are you looking for, something to build or an existing business that will support you almost immediately."

"I will need some income right away," Ann said, "I know that narrows the field and raises the price right away but I don't have any other income."

"Where are you going to be living after you move out of this house?" Ed asked.

Ann hesitated before answering, "I don't know. That's another problem. I'm going to have to find an apartment besides looking for a business."

Ed looked at her and thought for a minute. He reached into his briefcase and pulled out his pocket computer and started punching keys. It was several minutes before he spoke to Ann again.

"Hum, Mrs. Simmons I think that I might have something that might interest you and solve your housing problems also. There's a florist shop that just came on the market today. It's an estate sale and the kids are anxious to sell because they all live out of state. The floral arraigner is running the business right now and she will stay on as an employee. There's also a two-bedroom apartment above the shop that is rented out month to month. The florist shop has been profitable but the floral arraigner doesn't have the fire in her belly that an owner does nor does she have the money to buy the business. I think that this would be great for you. It's a high profit business and your little girl can go to school from the shop and the bus will drop her off in front of the shop in the afternoon. The shop is open from 9:00 A.M. to 6:00 P.M. so you'd be able to spend the time with Brenda that she needs."

Ann started to grin, "What are they asking for the business?"

Ann held her breath until Ed answered, "Let's see... The kids are asking $250,000 for the property and business. They just want to get out of this as clean as possible. They want a fast sale. Is it something that you'd like to see?"

Ann smiled and nodded her head. She questioned Ed Hawley about the business but he had little information other than the listing info. Ann had Ed call and make an appointment to go through the books and to see the shop in operation.

The next day Ed Hawley took Ann and Brenda to see the shop. They received permission from the renters to look at the apartment also. Ann saw right away that the shop needed cleaning and some minor cosmetic improvements and the apartment was in need of a thorough cleaning as a single young man was renting the apartment.

Ann poured over the books and saw that the business was profitable, though the profits had dropped off since the owner had died and the employee had started running the business. She calculated the profits as compared to the financing and saw that she could support herself and still satisfy the mortgage.

Ann went back to the shop after Ed Hawley went back to his office and she looked over the operation again. The young man poked his head out of the door of the apartment and asked if he could speak with Ann for a minute. She waited while he walked down the stairs.

"Are you going to buy the shop?" he asked.

""I don't know yet. What about the apartment? Are you intending to stay if I do buy the business?"

The young man shuffled his feet, "Naw, I moved in with my girl friend last week. Uh, if I do move out, are you going to hit me for the rent that I still owe?"

Ann knew that she didn't want this problem if she was going to buy the business, "How much rent do you owe?"

The young man shuffled his feet again, "A couple of months... four months rent."

"If I buy the place, I want you out of the apartment in fifteen days and I want it clean. If it's clean and not damaged I'll forgive the rent. If it's left dirty or if it's damaged I'll get a lien against you. That will screw up your credit for twenty years if you don't pay."

"I've got a hundred dollar security deposit. How about that? Do I get that back?"

Ann grinned, "Don't push it or I'll get the back rent and keep the deposit too."

Ann drove home and called Sam, "Were you serious about financing a business if I found one?"

Sam told her that he was serious so Ann went over the business with Sam and explained what she found and the profit picture and said that she felt that there was going to be enough profit to support herself and pay Sam back. She told him about the living quarters on the second floor and about her conversation with the tenant.

"What about you Ann? Is this a business that you could learn to love and really make a go of it?"

"Yes, I think so Sam. I think that it would be great for Brenda and me. I'll have some work to do on the apartment and I'll have to buy some furniture, other than that it's just about ready to go."

Sam hesitated a minute, "If it's an estate sale offer them $210,000 with a fifteen day settlement. I think that the kids will want to get their hands on the money fast. As for the furniture, take whatever you want from the house. I'm going to have to get rid it anyway. Whatever you can't use put it on the front lawn and have a yard sale. Keep the money and use it to get yourself started in the business if they accept your offer. If they do accept your offer I'll put the money in the account and you can write a check on settlement day."

"I'll have some money to put down myself, Sam"

"No Ann, I'll finance the $210,000. Believe me. You're going to need some money before the business gets back on its feet. You're going to make mistakes, underestimate expenses and God knows what all. Believe me, you're going to need that money."

The next day Ann called Ed Hawley back and made an offer on the florist shop for $210,000 with a fifteen-day settlement. Hawley told her that he didn't think that they would accept the offer but that he would present it and call her back that afternoon.

About two o'clock in the afternoon Ed called back, "Ann I can't believe this. They accepted your offer. I think that the fifteen-day settlement sold the deal. I'm going to bring the papers over tonight and have you sign your life away. You own a florist shop lady."

Ann settled on the florist shop and began life as a small business owner. She used the knowledge that she gained in college but learned most of the business on the job. Luckily she didn't make too many big mistakes and her floral arraigner was a big help.

After being in business for a month she enrolled in the local community college and took the two-year course in florist shop management. The course was a great help to her. The classes were for three hours, twice a week. She learned how to do floral arraigning on her own and the ins and outs of running a florist shop.

Ann settled in to the life of a working mom and she and Brenda soon had a regular schedule. The shop supported them comfortably but they would never become rich as florist shop owners, in part because Ann was trying to pay off her loan from Sam early. She would make double payments two or three times a year.

After about twelve years in business Ann opened another shop in an upscale suburb of town and the new shop took off quickly and soon began adding a little extra to their income. Ann sold the second shop in Brenda's senior year of high school and put the money in the bank for Brenda's college. There was still an outstanding mortgage on the second shop but Ann did make a small profit off of the business.

One Thursday Ann was going over her books one day trying to figure out if it would be feasible to sell the florist shop to help pay for the rest of Brenda's college education and med school. The front door opened and a man and woman walked over to the sales counter and asked if Ann had a few minutes to talk. The man and woman looked to be in their early fifties and were fairly well dressed.

"We've had an eye on your shop here and we were wondering if you would be interested in selling," the man said, "I just took my severance from my company and we're looking for a small business to run until I'm ready to retire for good."

Ann closed the shop and took the couple upstairs to talk about what they had in mind. Ann had figured that she might have trouble selling the business through a broker because the neighborhood was beginning to show it's age. She really wondered if she could get much more than she had paid for it. The state had built a couple of new roads that diverted traffic from the area and several other florist shops had opened in the area over the years. The fact that the couple was offering to buy the business without going through a broker meant that Ann would save the ten percent commission that business brokers charged.

The couple had their hearts set on running a florist shop and they agreed to let Ann have the business appraised and they would make a final decision based on the appraisal. Ann asked that they pay for half of the appraisal and she would deduct their share from the purchase price of the business if they agreed to buy it. They agreed to pay half of the appraisal and Ann had the business appraised.

The couple reviewed the paperwork that the appraiser left with them and told Ann that they would pay the appraised price if they could settle in sixty days. Ann asked that the couple think it over that weekend and she would check over the appraisal and if they all agreed they would have a lawyer draw up the paperwork that next week.

A friend of Ann's called after the couple left and Ann remembered that the friend owned the condo at the lake. Ann asked if she could rent it for the weekend. Her friend told her that she could use it for the weekend for free as there hadn't been any snow yet and there was really no demand for the condo yet.

On Friday Ann had asked her employee to run the shop a half day on Friday and on Saturday alone so that she could spend the weekend on the books and be ready to talk with the couple that wanted to buy the business the next week. There were no major holidays that week so the florist business would not be rushed.

Ann left the shop at noon on Friday and headed for the lake. It was a clear day and snow flurries were predicted for Saturday. The condos in the complex were, for the most part, deserted and Ann had the entire area to herself.

After she sat her small suitcase in the living room she pulled out the books and began going over the appraisal and the books for the florist shop for the past year. After an hour she pushed the books away and stood up and stretched. She looked out over the lake. The water was calm and she couldn't see any signs of life moving. She began to get a lonely feeling and she turned to the books to start going over the figures one more time. She stopped a foot from the kitchen table and looked at the paperwork spread all over the kitchen table. She turned away and grabbed her coat off of the couch and headed for her car.

She had about an hour and a half before dark and she needed to take a break from the books. She decided to drive around the other end of the lake. She had never been to the other end of the lake; it didn't look as well developed as the part where the condos were.

The little Toyota started and she pulled out of the condo complex and headed toward the opposite end of the lake. The Toyota was six years old but it still ran fairly well. She had left the van for the florist shop in town, as she knew that her employee might need it for deliveries on Saturday.

She noticed the skies had become cloudy and it had gotten much colder since she arrived at the condo. Ann put the Toyota in gear and started driving, her mind racing with thoughts of how the sale of the business that had supported her and Brenda for so long would change her life. It would be the first time in years that she would have to go to work for someone else.

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Chapter 6